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THEORETICAL STUDY OF THE ACCOUNTING PRINCIPLE OF PRUDENCE, REVENUE RECOGNITION AND THE PRINCIPLE OF IMPARITY IN TREATMENT OF ASSETS AND LIABILITIES

Marjan Odar


Puni tekst: engleski pdf 254 Kb

str. 26-40

preuzimanja: 1.153

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Sažetak

In recent years, the accounting in Europe has mainly developed within two schools of accounting: the Central European or German school of accounting and the Anglo-Saxon or English one. Fundamental differences between the two are evident not only in the accounting area; they derive from different ways of thinking and views regarding some vital issues of life and economy, and particularly regarding the role of government and legislation in taking important economic decisions and adopting other solutions. One of the basic assumptions in accounting is the assumption of prudence, which also determines and influences, directly or indirectly, other accounting assumptions, principles and rules in preparation of financial statements. It is therefore extremely important to know what its theoretical concept is and how it is treated. The article gives the theoretical foundation of the principle of prudence and explains its importance and impact on financial statements.

Ključne riječi

accounting; the principle of prudence; revenue recognition principle; imparity principle; risk; fair value

Hrčak ID:

21476

URI

https://hrcak.srce.hr/21476

Datum izdavanja:

15.6.2007.

Posjeta: 2.054 *